You CANNOT safely remove a full pound from a stock flywheel. To get a pound, you need to machine off a lot of material, drill the flywheel etc and then they break. When they DO break they take your electrics with them, and sometimes ruin your bendix, engine cases, etc. I have seen them take the front crank seal, causing a lean condition and full engine failure.
We have found you can only take about a half pound off and still be reliable. NO drilling!
If you are going to do this, make sure you use someone who actually knows what they are doing. There are far too many hacks out there.
I base my opinions on over 30 years of building skis in my shop. NOT what people say here, facebook, PWCtoday, and so on....